Many open to buying one if it meets their needs
- Half of U.S. car shoppers are considering a hybrid or EV
- 14% of consumers currently own a hybrid, PHEV, or electric car
- 7% would only consider hybrids, 5% would only consider electric vehicles
- EV sales are growing, but the growth rate has slowed
- Existing EV owners and potential EV buyers have different demographics
- Automakers need to lower prices and address ownership hurdles to attract new buyers
A new study reveals that half of car shoppers in the U.S. are considering a hybrid or electric vehicle (EV) for their next car. Currently, 14% of consumers own a hybrid, plug-in hybrid (PHEV), or EV, with 7% specifically interested in hybrids and 5% interested in electric vehicles. While EV sales are growing, the growth rate has slowed, indicating that early adopters have already made their purchases. The study also highlights the demographic differences between existing EV owners and potential buyers, with existing owners more likely to live in urban areas and consider themselves early adopters. To attract new buyers, automakers will need to lower prices and address ownership hurdles. The average budget for current EV owners is $59,000, while potential buyers have an average spending limit of $50,000. Additionally, potential buyers are looking for traditional automakers, such as Toyota, to offer a wider range of EV options.
Public Companies: Kelley Blue Book (N/A), Cox Automotive (N/A), Toyota (TM)
Private Companies: undefined
Key People:
Factuality Level: 7
Justification: The article provides information from a study conducted by GBK Collective, which interviewed 2,012 consumers on their car shopping plans. The article also includes statistics on the percentage of car shoppers considering hybrid, PHEV, and electric cars, as well as the percentage of current owners of these types of vehicles. It discusses the growth rate of electric car sales in the U.S. and includes insights on the demographic differences between existing EV owners and those considering an EV. The article also mentions the budget and price considerations of EV buyers, as well as their preferences for traditional automakers. Overall, the article provides factual information based on the study and industry data.
Noise Level: 3
Justification: The article provides information on consumer interest in hybrid, plug-in hybrid, and electric cars, as well as the growth of electric car sales. It includes data from a study conducted by GBK Collective and insights from analysts. However, the article contains some repetitive information and lacks in-depth analysis or actionable insights.
Financial Relevance: No
Financial Markets Impacted: No
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article does not pertain to financial topics and does not describe any extreme events.
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